Divorce and Credit Card Debt

By
Hopper Law Firm, PLLC
|August 24, 2010

When you divorce someone, usually that means that you become independent
and are no longer bound to that person, although financial matters seem
to be the exception to this. In addition to
child support
and
spousal support
, even after you divorce, you may be plagued by joint credit card debt.
No matter who spent the money on the credit card, if it was jointly held,
you may be responsible for that debt.

Here are some tips about credit card debt when you divorce.
1. Try to pay off all jointly owned debt before you divorce. A
Raleigh divorce attorney
can assist you with this process.
2. If you cannot pay off jointly owned debt, transfer the debt to independent
credit cards.
3. Destroy all jointly owned credit cards and cancel the accounts. You
certainly don't want your spouse accruing more joint debt after you
have divorced!
4. Use a joint savings account or your equity on a jointly-owned home
to pay off these debts.

If you are getting a
legal separation
, make sure to write into the agreement details about how to handle the
debt. The bottom line is, make sure that you are not liable for your ex-spouse's
debt after you have divorced.

The information on this website is for general information purposes only.
Nothing on this site should be taken as legal advice for any individual
case or situation. This information is not intended to create, and receipt
or viewing does not constitute, an attorney-client relationship.